Updated throughout the day with quick takes from staff.
Apparently, winning a championship can increase the overall value of your franchise. Who knew!
Forbes released their annual NBA team valuations list today, and the Lakers have moved ahead of the Knicks and into the top spot on the list. The Lakers are valued at $607 million, $21 million ahead of the Knicks.
At the bottom, though, many teams are really struggling due to the ongoing economic crisis, as Forbes reports.
Overall revenue remained flat at an average of $126 million per team, but 12 of the league’s 30 teams posted an operating loss (in the sense of earnings before interest, taxes, depreciation and amortization) during the 2008-09 campaign. That’s the most since the 1998-99 season, which was plagued by a lockout that cut the number of games played in half.
Four teams (Wizards, Timberwolves, Kings and Grizzlies) saw their franchise value drop by over 10% from last year. A drop in ticket sale revenue caused a lot of problems for teams last year, and it hasn’t gotten much better thus far this year, according to Ken Berger at CBS Sportsline.
Average paid attendance is down 3.7 percent in the NBA through the first quarter of the regular season, sending gate receipts plummeting 7.4 percent, according to league documents obtained by CBSSports.com.
Net gate receipts, the money teams make from ticket sales, fell to an average of $828,985 per game, down from $894,823 at the same point last season. Only nine teams were up or flat in average net gate receipts through Nov. 29, while 21 teams saw a decline.
Basically, don’t be surprised if things get worse before they get better.
2 comments
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Honestly I'm surprised the Knicks lasted that long as the NBA's most valuable franchise
I’m surprised it’s not worth less than the Bobcats by now.
Me babe, steppin' out
Into the night, into the light
by Orlando Rays on Dec 10, 2009 12:04 PM EST reply actions
James Dolan has a lot of money
Because the Knicks’ operating budget and revenue is pretty average. It must be Dolan’s own investment that drives them up.
You know you'll get devoured by Cheaney, Wallace, and Juwan Howard.
by Mike Prada on Dec 10, 2009 12:05 PM EST up reply actions
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